Wanbury Limited announced a private placement of 5,450,000 convertible share warrants at the price of INR 26.25 per warrant for gross proceeds of INR 143,062,500 on February 17, 2022. The warrants will be issued at the price of INR 105 including premium of INR 95 per share on face value of INR 10. Each warrant is convertible Into one fully paid up equity share of INR 10 each.

An amount equivalent to 25% of the warrant issue price shall be payable at the time of subscription and allotment of each warrant and the balance 75% shall be payable by the warrant holder on the exercise of the warrant within 18 months. The transaction will include participation from existing investor Expert Chemicals (India) Pvt. Ltd. The transaction has been approved by the board of directors of the company.